While Facebook is the largest photo platform on the web, the company only recently became a dominant force in the video streaming space. In the past month, the company doubled the number of video streams from 110.418 million streams to 216.765 million streams according to Nielsen’s latest VideoCensus numbers. That’s a dramatic increase, making the site the third largest video site on the web, behind YouTube and Hulu.

The fact that Facebook can remain profitable while scaling the largest photo service on the web and one of the fastest growing video services is incredible. At this rate, Facebook could surpass Hulu to become the second largest video platform in a couple months and could eventually be contenting with YouTube, the most dominant video site on the web with over 6.6 billion streams a month.

With over 14 million videos shared on the site each month, each video would need to be watched 16 times in order to hit Nielsen’s estimates. Given that each user has 130 friends on average, it’s easy to understand how video views on Facebook continue to grow. As video becomes a standard feature of mobile devices, I would only expect the number of videos shared on Facebook to continue to grow overtime.

If the numbers continue to grow as fast as they are right now, Facebook could be larger than YouTube in 6 months. It’s a bold statement, but Facebook continues to experience unmatched growth.